Zcash Activates NU7 Upgrade, Burning 60% of Transaction Fees

The network's latest protocol change removes the majority of fees paid on transactions from circulating supply. Zcash has activated NU7, a scheduled network upgrade that changes how transaction fees are handled on the blockchain. According to Unchained, the upgrade removes 60% of fees paid during transactions from circulation entirely, rather than routing them to miners or validators as before. Network upgrades, commonly labeled NU followed by a number, are how Zcash implements major protocol changes. Each prior upgrade has adjusted elements of the network's consensus rules, privacy features, or economic design.

Source: TheCoinrise